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Secondary Issues

Indiabulls Real Estate launches Rs.1,500-Cr QIP

Mint  

Indiabulls Real Estate is to launch a Qualified institutional placement (QIP) issue and has set the floor price at INR 106.38 per equity share. The company plans to raise INR 1,500 crore through QIPs. The fundraising is aimed at augmenting the company's long-term resources and to maintain sufficient liquidity for meeting funding requirements for business activities, existing and new projects and future business growth.